Module 1 Course 1: The Basics of Accounting
This is an introductory course on accounting. The course explains the overall accounting process as well as how to post transactions to General Ledger Accounts and how financial statements are prepared through compiling transactions. The course also covers several important accounting principles such as accounting for gains and losses, depreciation, inventory, and deferred taxes. A supplemental workbook is included with this course to illustrate examples of how accounting works, consisting of sample transactions, posting transactions to accounts, compiling transactions through the Trial Balance, presenting the Financial Statements, reconciling the cash account, inventory accounting, accounting for variances, and account classifications.
The course consists of six chapters: Chapter 1 - Framework for Accounting (overall process and accounts), Chapter 2 - Processing Transactions (T Accounts, debits, credits), Chapter 3 - Compiling Financial Statements (closing entries, trial balance), Chapter 4 - Accounting Principles (deferred taxes, gains and losses, special disclosures), Chapter 5 - Assets (inventory methods, depreciation), and Chapter 6 - Additional Topics (changes, cost variances, trends).
This course is designed for people with little or no understanding of accounting. It does help to have a business background since various types of examples are rooted in business transactions. Listed below is a quick summary of important information about this course:
Objective
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Provide participants with a good understanding of how accounting works including how to post transactions to general ledger accounts and how to compile and organize accounts into financial statements. Participants will also learn some of the more common accounting principles such as inventory accounting, accounting for changes, depreciation, and deferred taxes. Specific Objectives Chapter by Chapter |
Level
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Basic / Introductory - no prior knowledge is required. Some exposure to financial information is helpful. Case study exercises are included as part of this course. |
Pre Requisites
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None - you do not have to complete any other courses prior to taking this course. You should have some exposure to financial information; otherwise the detail concepts presented in the course may be challenging. |
Credit Hours
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2.5 CPE or .3 CEU |
Exam
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A Final Exam consisting of 20 multiple choice questions is provided. You must answer at least 14 of 20 questions correctly to pass. |
Certificate
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A Certificate of Completion is issued once you complete the entire course program and pass the Final Exam. Certificates become part of your permanent transcript record. |
Duration
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You can access this course for one year from the date of purchase |
Content
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Course consists of 63 pages including 20 review question pages. There are 9 additional extended pop up pages embedded in the course as well as mouse over links and 8 audio video files.
A course index appears at the end of the course. The course includes a Case Study Workbook. A course glossary is included as a separate file.
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Field of
Study
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Accounting |
Technical Review
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This course was reviewed prior to release as part of the pilot study which included five licensed Certified Public Accountants |
Price
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The cost of this course is $ 35.00 |
Purchase
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Click Here to purchase this course. If registered, Log In and purchase the course by clicking on the Course Catalog tab. |
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